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2017-11-29 10:05:03

WFC

Wells Fargo

$56.71

1.1368 (2.05%)

10:05

11/29/17

11/29

10:05

11/29/17

10:05

Wells Fargo call volume above normal and directionally bullish

Bullish option flow detected in Wells Fargo with 15,267 calls trading, 4x expected, and implied vol increasing almost 2 points to 19.91%. Dec-17 55 puts and 1/5 weekly 56.5 calls are the most active options, with total volume in those strikes near 5,400 contracts. The Put/Call Ratio is 0.56. Earnings are expected on January 12th.

Nomura Instinet analyst Bill Carcache downgraded U.S. Bancorp (USB) to Neutral saying he sees downside risk to net interest income and provision expectations. Consensus expects U.S. Bancorp's loan growth to accelerate to 6% by 2018, which is too optimistic given the bank's recent comments, the analyst contends. He lowered his price target for the shares to $55 from $57. Carcache remains bullish on Wells Fargo (WFC) and raised his price target for the shares to $65 from $64.

09/26/17

DBAB

09/26/17DOWNGRADETarget $136DBABHold

PNC Financial downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Matt O'Connor downgraded PNC Financial (PNC) to Hold as he seeks to lessen exposure to traditional banks. The analyst sees net interest income growth slowing and credit costs inching up as the Fed raises short rates and the yield curve flattens. He believes a number of positives are priced into PNC shares. O'Connor upped his price target for the stock to $136 from $130. The analyst continues to prefer banks with a "turnaround angle," like Goldman Sachs (GS) and Wells Fargo (WFC), and remains positive on capital markets businesses like Morgan Stanley (MS). O'Connor this morning also downgraded JPMorgan (JPM) to Hold.

09/15/17

UBSW

09/15/17NO CHANGETarget $56UBSWNeutral

Wells Fargo revenue headwinds can persist, says UBS

UBS analyst Saul Martinez said proprietary analysis suggests Wells Fargo's difficult backdrop for client acquisition remains and the recent disclosures have kept the company in the spotlight for the wrong reasons. He believes earnings growth depends on efficiency improvement and more aggressive stock buybacks. Martinez maintained his Neutral rating and lowered his price target to $56 from $59 on Wells Fargo shares.

Snap Inc. (SNAP) is banning ads of initial coin offerings in its Snapchat app, Cheddar reports, citing a company spokesperson. The decision makes Snapchat the latest social media platform to prohibit advertisements for cryptocurrency ICOs, the report says. In contrast to Facebook (FB) and Google (GOOG), however, Snap's current block of ICOs has been in effect since early February and does not apply to different kinds of cryptocurrency ads, the report says. Reference Link

Airbus (EADSY) is mulling making a freighter version of its slow-selling A330neo widebody, spurred by requests from potential customers Amazon (AMZN) and UPS (UPS), Bloomberg reports, citing people familiar with the matter. The interest from Amazon and UPS could incite a competition between Airbus and rival Boeing (BA) as the worldwide air-cargo market rebounds from a slump, the report notes.

Facebook's chief information security officer, Alex Stamos, will leave the company after internal disagreements over how the social network should deal with its role in spreading disinformation, The New York Times reports, citing current and former employees briefed on the matter. Reference Link

Amazon has considered the possibility of expanding its retail footprint by acquiring some stores from bankrupt Toys 'R' Us, Bloomberg reports, citing people with knowledge of the situation. The e-commerce giant is not interested in maintaining the Toys 'R' Us brand, but has mulled using the soon-to-be-vacant stores for its own purposes, the report says. Reference Link

President Trump is readying to place a package of $60B in annual tariffs against China, following through on a long-time threat that he claims will punish China for IP infringement and create more jobs in the U.S., the Washington Post reports. The tariff package, which the president intends to unveil by the end of the week, was confirmed by four senior administration officials, the report notes. Senior aides has presented Trump with a $30B tariff package that would apply to a variety of products, but the president directed them to approximately double the amount of new trade levies, the report says. The package could be applied to over 100 products, which the president contends were made by using trade secrets that the Chinese stole from U.S. companies or forced them to hand over in exchange for market aces, the report says. Reference Link